Financial giants have made a conspicuous bullish move on PENN Entertainment. Our analysis of options history for PENN Entertainment PENN revealed 18 unusual trades.
Delving into the details, we found 61% of traders were bullish, while 27% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $256,968, and 13 were calls, valued at $827,513.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $17.0 to $22.5 for PENN Entertainment over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for PENN Entertainment's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of PENN Entertainment's whale trades within a strike price range from $17.0 to $22.5 in the last 30 days.
PENN Entertainment 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PENN | CALL | SWEEP | BULLISH | 01/17/25 | $2.48 | $2.41 | $2.47 | $20.00 | $139.3K | 6.5K | 15 |
| PENN | PUT | SWEEP | BULLISH | 10/18/24 | $6.5 | $6.45 | $6.45 | $22.50 | $119.9K | 103 | 48 |
| PENN | CALL | SWEEP | BULLISH | 01/17/25 | $2.49 | $2.43 | $2.49 | $20.00 | $108.6K | 6.5K | 1.0K |
| PENN | CALL | SWEEP | BULLISH | 01/17/25 | $2.51 | $2.42 | $2.51 | $20.00 | $94.1K | 6.5K | 1.8K |
| PENN | CALL | SWEEP | BULLISH | 01/17/25 | $2.55 | $2.51 | $2.55 | $20.00 | $63.7K | 6.5K | 1.5K |
About PENN Entertainment
Penn Entertainment's origins date back to its 1972 racetrack opening in Pennsylvania. Today, Penn operates 43 properties across 20 states and 12 brands (such as Hollywood Casino and Ameristar), with land-based casinos representing 89% of total sales in 2023 (11% was from the interactive segment, which includes sports, iGaming, and media revenue). The retail portfolio generates mid-30% EBITDAR margins and helps position the company to obtain licenses for the digital wagering markets. Additionally, Penn's media assets, theScore and ESPN (starting with its partnership launch Nov. 14, 2023), provide access to sports betting/iGaming technology and clientele, helping it form a leading digital position.
In light of the recent options history for PENN Entertainment, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is PENN Entertainment Standing Right Now?
- With a volume of 3,208,298, the price of PENN is down -2.82% at $16.55.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 2 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for PENN Entertainment with Benzinga Pro for real-time alerts.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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